Finance and Accounting

Blog

A Lucid Explanation on the Cause of the Housing Crisis and the Current Economy
My undergrad degree was economics and I can vouch for the fact that academics do indeed push Keynesian policies even though they are a proven failure......
 
 
The Chinese Economy, Savings and Gender Imbalance
Get ready for this: the current average savings rate in China is 30% and rising.  As I've mentioned before, a country's savings is a critical way to improve and grow their economy.  In terms of our national economic strategy, we are rapidly losing ground to other countries as we take on...
 
 
U.S. is Losing Ownership Control
One measure of just how bad our decisions are as a country in terms of our response to the current economic conditions is whether or not we are gaining or losing ownership control as a country.  The data is not good: the U.S. is the biggest loser, followed by the U.K. and Canada.  The...
 
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Bank Bankruptcy Forecast
Are we having fun yet with this downturn?  This forecast was just developed by an arm of the Bain and Company strategy consulting firm regarding pending bank failures: ...
 
 
Mapping Decline and Recovery Across Industry Sectors
Industry sector performance analysis during recent recessions is another excellent indicator of what we might be facing this time around in the current downturn.  In fact, one could argue that the more recent the data, the more predictable the data should be regarding current...
 
 
Why the Economy Is Going To Get A Lot Worse Before It Gets Better
Things are going to get much worse due to the bungled bailout attempts, the principle of the J Curve and the principle of the Ripple Effect. 1. First, the bailout will only delay any recovery.  Click here for a previous post for more on that. 2. Second, there is the principle of the “J”...
 
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Q&A

Record Keeping at Launch
My wife is starting an online business. How do we find a God honoring structure in keeping records of everything, because right now we have no guidelines?  We are just winging it and we are not organized. ...
 
 
What About Business Debt?
I believe that we should personally avoid debt as Christians due to the bondage and potential unequal yoking. However, is it okay to issue debt as a Christian to companies in the form of bank loans? I have been blessed in my current non-lending role at a bank and I now have the opportunity to move...
 
 
Help! I Need Working Capital Right Now!
I am about to launch full-scale with a product at my industry’s largest trade show this weekend.  I do not have enough capital to finance the scale up and production likely required by the sales my product and booth at the trade show are likely to generate with nationwide distributors (I've...
 
 
How to Grant Someone Sweat Equity in a Business
How should I think about granting someone "sweat equity" in my business?  Should I grant them stock or give them a royalty?  Any suggestions? ...
 
 
How to Make the Most of an Idea without Any Money
I have a "patent pending" on a new type of commercial resistance exercise machine.  Here's the problem.  I don't have the money to get a prototype built.   I know what I have here, but I have no money to pay for anything.  My desire is to start a small manufacturing...
 
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Accounts Receivable Factoring
I've heard of the term "factoring" in terms of a potential financing method.  What exactly is factoring and what does it involve?...
 
 
Company Charitable Giving
We are needing to develop a “corporate charitable giving policy” for our company that reflects our Christian values.  We’re already getting hit by requests (like United Way).  Do you have something in writing that you can share with us, or at least some guidance?...
 
 
Recommended Accounting Method
What kind of accounting method do you recommend that I use for my business? ...
 
 
The Necessity of an Annual Budget
Do you recommend that I have an annual plan or budget for my business? ...
 
 

Links

Business Valuation Calculator
 
Economic Stress Index
 
Harvard Business School's Economic Crisis Website
 
IRS Tax FAQs
 
Financial Calculators
 
Worker's Compensation Research
 
IRS Tax Forms and Instructions
 
State Tax Forms and Instructions
 
State Tax and Revenue Website Links
 
Recommended Accounting Software for New Start Ups
 
Recommended Accounting Software for Mid-Sized Companies
 

Quotes

Hundreds More U.S. Firms Likely to Default in Next Two Years
Despite signs that the recession is bottoming out, default rates in the U.S. are likely to worsen as some big companies run out of cash, according to Bain & Company. As many as 287 companies with more than $100 million in assets defaulted on their debt in 2008 and 2009, compared with 116 for...
 
 
Matthew Henry on Proverbs 11:15
Proverbs 11:15 - He that is surety for a stranger shall smart for it: and he that hateth suretiship is sure. (KJV) Commentary: Here we are taught, 1. In general, that we may not use our estates as we will (he that gave them to us has reserved to himself a power to direct us how we shall use them,...
 
 
Adrian Rogers on the Redistribution of Wealth
You cannot legislate the poor into freedom by legislating the wealthy out of freedom.  What one person receives without working for, another person must work for without receiving.  The government cannot give to anybody anything that the government does not first take from somebody...
 
 
Thomas Jefferson on Money, Debt and the Redistribution of Wealth
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. It is incumbent on...
 
 
Proverbs 22:26-27
Be not thou one of them that strike hands, or of them that are sureties for debts.  If thou hast nothing to pay, why should he take away thy bed from under thee? (KJV) ...
 
 
Leviticus 19:36
Just balances, just weights, a just ephah, and a just hin, shall ye have: I am the LORD your God, which brought you out of the land of Egypt. (KJV)...
 
 
Proverbs 16:8
Better is a little with righteousness than great revenues without right. (KJV)...
 
 
Proverbs 20:10
Divers weights, and divers measures, both of them are alike abomination to the LORD. (KJV)...
 
 
Alan Greenspan on Accounting
It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making. - Alan...
 
 
Charlie Munger on Accounting
You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. - Charlie Munger, vice chairman of Berkshire...
 
 


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